Embracing Blockchain For The Wrong Reasons

2019-12-18 | innovation Embracing Blockchain For The Wrong Reasons

So you’ve read about this fantastic blockchain technology, and now you want to reap the benefits for your utility? How do you need to proceed then?

So you’ve read about this fantastic blockchain technology, and now you want to reap the benefits for your utility? How do you need to proceed then?

Does any of the following apply?

  • You want to use blockchain in your energy company.

  • You want to see what blockchain can do.

  • You are looking for a use case to use blockchain.

  • Are you looking for a problem to solve with blockchain?

 

"Classic Tech Push vs Tech Pull"

 

When not to use blockchain

While you might tick some of the criteria outlined above, blockchain might still not be a good deal for you.

  • If you want to use it, but if you have not yet identified the value it brings; don’t use a blockchain. This motivation is the category for bragging rights or innovation theatre. The only valid reason here could be to learn from it. Be upfront about this goal. Don’t dress up the project as if it will change the world.

  • It is good to see what blockchain can do. But testing something and learning is best kept for more isolated, sandboxed instances. You want to see it in action, get your hands dirty or see what the limitations are. Again, be upfront about these goals before you start.

  • Looking for a use case or a problem. This category is a hammer looking for nails. While it is an ‘ok’ exercise, don’t pursue this for too long. There are a lot of things you can do with a blockchain, but some things are just better done with a centralised version of Excel instead.

 

Hammers looking for nails are a classic “Tech Push vs Tech Pull”-case. For most people, it is more fruitful to start with an identified problem and explore different technologies that could solve it. Looking for a hand, please reach out.

 

 

Written By: Roelof Reineman